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Increased construction demand lifted profits of rebar above HRC
Mar 19,2020 10:47CST
SMM Insight
Source:SMM
The higher profits, however, have not prompted steelmakers to shift their molten iron to produce rebar at the expense of HRC, given current greater inventory pressure of rebar and uncertainties around the strength of the price rally. As of March 17, the profit gap has expanded to 126 yuan/mt, up from 10-30 yuan/mt in early March, with the national average prices of rebar rising over 100 yuan/mt in the month to March 17. 
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Rebar
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